SSAB has secured €128m ($138.8m) in funding to decarbonise its Luleå steel plant with green hydrogen thanks to European Commission approval.
The direct Swedish grant will be used to fund the installation of an electric arc furnace (EAF) to produce direct reduced iron (DRI) using renewable hydrogen, to help the existing steel plant move away from coal-based production.
Expected to have capacity for 2.5 million tonnes of green slabs per year, SSAB plans to start producing green steel from 2029.
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